Consumer
Shoppers Keep Splurging on Little Luxuries Like Starbucks, Fried Chicken
- Starbucks says people are shelling out for lattes, croissants
- Shoppers are still playing catch-up from pandemic shutdowns
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Little treats are helping to keep the US economy afloat. At least for now.
While Americans dial back purchases of pricey items like boats and fridges, companies and economic data both point to a consumer who’s willing to pay up for inexpensive indulgences. Starbucks Corp., Chipotle Mexican Grill Inc. and PepsiCo Inc. have all said their sales remain strong as shoppers shell out for $7 lattes and $11 burrito bowls. Spending for things like airline travel, luggage and gambling is holding up, too.